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Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Ashapura Minechem reports standalone net loss of Rs 12.04 crore in the September 2016 quarter
Nov 11,2016

Net loss of Ashapura Minechem reported to Rs 12.04 crore in the quarter ended September 2016 as against net profit of Rs 2.70 crore during the previous quarter ended September 2015. Sales declined 25.85% to Rs 57.49 crore in the quarter ended September 2016 as against Rs 77.53 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales57.4977.53 -26 OPM %-9.2710.86 - PBDT-4.837.99 PL PBT-12.042.70 PL NP-12.042.70 PL

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APM Industries standalone net profit declines 14.16% in the September 2016 quarter
Nov 11,2016

Net profit of APM Industries declined 14.16% to Rs 4.73 crore in the quarter ended September 2016 as against Rs 5.51 crore during the previous quarter ended September 2015. Sales declined 9.27% to Rs 66.16 crore in the quarter ended September 2016 as against Rs 72.92 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales66.1672.92 -9 OPM %11.9911.70 - PBDT8.348.91 -6 PBT7.298.18 -11 NP4.735.51 -14

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Himalchuli Food Products reports standalone net profit of Rs 0.01 crore in the September 2016 quarter
Nov 11,2016

Net profit of Himalchuli Food Products reported to Rs 0.01 crore in the quarter ended September 2016. There were no net profit/loss reported during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Taparia Tools standalone net profit declines 19.16% in the September 2016 quarter
Nov 11,2016

Net profit of Taparia Tools declined 19.16% to Rs 2.70 crore in the quarter ended September 2016 as against Rs 3.34 crore during the previous quarter ended September 2015. Sales rose 15.44% to Rs 96.88 crore in the quarter ended September 2016 as against Rs 83.92 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales96.8883.92 15 OPM %4.846.82 - PBDT4.285.12 -16 PBT4.175.01 -17 NP2.703.34 -19

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Joy Realty reports standalone net profit of Rs 0.01 crore in the September 2016 quarter
Nov 11,2016

Net profit of Joy Realty remain constant at Rs 0.01 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 as against Rs 0.03 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales00.03 -100 OPM %0-33.33 - PBDT0.030.04 -25 PBT0.020.02 0 NP0.010.01 0

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Hindustan Hardy Spicer reports standalone net profit of Rs 0.04 crore in the September 2016 quarter
Nov 11,2016

Net profit of Hindustan Hardy Spicer reported to Rs 0.04 crore in the quarter ended September 2016 as against net loss of Rs 0.24 crore during the previous quarter ended September 2015. Sales declined 42.96% to Rs 8.06 crore in the quarter ended September 2016 as against Rs 14.13 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales8.0614.13 -43 OPM %3.470.71 - PBDT0.110.05 120 PBT-0.07-0.20 65 NP0.04-0.24 LP

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SRF standalone net profit rises 11.17% in the September 2016 quarter
Nov 11,2016

Net profit of SRF rose 11.17% to Rs 97.91 crore in the quarter ended September 2016 as against Rs 88.07 crore during the previous quarter ended September 2015. Sales declined 2.21% to Rs 879.14 crore in the quarter ended September 2016 as against Rs 898.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales879.14898.98 -2 OPM %22.3222.42 - PBDT186.26186.19 0 PBT123.52123.19 0 NP97.9188.07 11

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Novartis India standalone net profit declines 78.58% in the September 2016 quarter
Nov 11,2016

Net profit of Novartis India declined 78.58% to Rs 22.21 crore in the quarter ended September 2016 as against Rs 103.69 crore during the previous quarter ended September 2015. Sales declined 24.40% to Rs 162.56 crore in the quarter ended September 2016 as against Rs 215.04 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales162.56215.04 -24 OPM %9.515.26 - PBDT34.57140.56 -75 PBT33.86139.66 -76 NP22.21103.69 -79

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Great Eastern Shipping Company standalone net profit declines 22.62% in the September 2016 quarter
Nov 11,2016

Net profit of Great Eastern Shipping Company declined 22.62% to Rs 170.53 crore in the quarter ended September 2016 as against Rs 220.38 crore during the previous quarter ended September 2015. Sales declined 22.61% to Rs 412.52 crore in the quarter ended September 2016 as against Rs 533.04 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales412.52533.04 -23 OPM %42.2852.25 - PBDT268.75285.84 -6 PBT175.91216.20 -19 NP170.53220.38 -23

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Shivansh Finserve announces resignation of company
Nov 11,2016

Shivansh Finserve announced that Usha Agarwal (Non-Executive Director) is no longer associated with the company as she had placed her resignation from the Company w.e.f. 10 November 2016.

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Board of Universal Starch Chem Allied appoints company secretary
Nov 11,2016

Universal Starch Chem Allied announced that the Board of Directors of the Company at their Meeting held on 10 November 2016 considered and approved the appointment of Chaitali Salgaonkar as Company Secretary and Compliance Officer of the Company and designated her as Key Managerial Personnel of the Company.

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Board of Kanco Tea & Industries decides to increase bought leaf manufacturing facility
Nov 11,2016

Kanco Tea & Industries announced that the Board of Directors of the Company at its meeting held on 11 November 2016 has decided to increase the bought leaf manufacturing capacity from 5.50 Lakh Kgs to 10 Lakh Kgs to carter to increased availability of bought leaves due to mushrooming of small growers. The total project cost will be Rs. 2.75 crores and the proposed capacity will be added within June, 2017.

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Asia Pacific Market: Stocks closed mixed
Nov 11,2016

Asia Pacific share market closed mixed on Friday, 11 November 2016, after paring early gains inspired by record-breaking advance of the Dow Jones industrial average overnight, supported by hopes for U.S. policies under U.S. President-elect Donald Trump.

A sudden spike in US bond yields to a 10-month high rattled emerging equity markets today, 11 November 2016. Donald Trump was declared as the 45th President of the United States on Wednesday, 9 November 2016. US bond yields have surged after Trumps election on worries his policies stance - from protectionism and fiscal expansion - will boost inflation and lead the Federal Reserve to raise interest rates more than expected. Investors fear that higher interest rates in the US will spark capital outflows from the emerging equity markets.

The Dow Jones Industrial Average hit a record high overnight on Thursday, driven by a rally in bank stocks after a statement on Donald Trumps transition website talked of dismantling the Dodd-Frank law, financial sector regulations which came in place in the wake of the global financial crisis. Also adding to strength was expectations for U.S. economic policies under a Trump administration following his victory in the presidential election on Tuesday continued supporting the market.

Among Asian bourses

Australia Stocks incline for second straight day

Australian share market inclined for second successive session, on the back positive lead from Wall Street overnight and jump in commodity prices including iron ore. Most sectors on the ASX closed higher, with financial, materials, and energy sectors registering the biggest gains. At the closing bell, the benchmark S&P/ASX 200 index inclined 41.90 points, or 0.79%, to 5,370.70, while the broader All Ordinaries index increased 37.70 points, or 0.7%, to 5,446.60.

Shares of materials sector, which includes mining stocks, surged on hopes commodity prices would benefit from Mr Trumps infrastructure spending plans. Iron ore futures continued to rally on Friday, rising another 6% after the spot price shot above $US74 a tonne, its highest point since November 2014, on the prospect of a big infrastructure spending program in US under President-elect Donald Trump and increased Chinese demand. BHP Billiton gained 1.1% to A$24.94, Rio Tinto rose 2.4% to A$59.55, and pure iron ore miner Fortescue Metals Group soared 4.5% to A$6.28.

The bank stocks were also beneficiaries, on following Wall Streets major lenders higher on news that one of Trumps first orders of business would be to dismantle the Dodd-Frank law which was introduced by the Obama administration to increase the regulation in the financial sector following the global financial crisis. Westpac was up 3.1% to A$31.91, National Australia Bank 4.2% to A$27.80, Australia & New Zealand Banking Group 2.6% to A$28.30, and Commonwealth Bank of Australia 3.4% to A$75.78.

Shares of gold producers fell, on tracking fall in bullion prices. Gold hit the lowest levels in over three weeks on Friday, weighed down by rising bond yields and a firm dollar due to inflation fears from the prospect of a splurge of U.S. infrastructure spending. Spot gold was down 0.3% at $1,255.85 an ounce, paring losses after hitting $1,250.70, the weakest since Oct. 17. It has declined over 3% so far this week. Newcrest Mining, Australias largest producer was off 7.3% to A$22.47, Perseus Mining 9.2% to A$0.59, and Kingsgate 9.2% to A$0.59.

Nikkei extends gain on softer yen

The Japan share market inclined for second straight session, supported by yen depreciation to mid 106-level against greenback and hopes Trump administration will boost spending and spur U.S. economic growth. 18 out of 33 TSE industry categories closed in positive territory, led by Insurance, Banks, Nonferrous Metals, Securities & Commodities Futures, and Iron & Steel stocks, while Information & Communication, Fishery, Agriculture & Forestry, Retail Trade, and Electric Power & Gas were notable losers. The 225-issue Nikkei Stock Average rose 30.37 points, or 0.18%, to 17,374.79, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange jumped 1.93 points, or 0.14%, to end at 1,378.28. Banking issues gained, mirroring advances made on Wall Streets major lenders on news that one of Trumps first orders of business would be to dismantle the Dodd-Frank law which was introduced by the Obama administration to increase the regulation in the financial sector following the global financial crisis. overnight on hopes for eased regulations. Mitsubishi UFJ Financial Group leapt 13.4% to 608 yen and Sumitomo Mitsui Financial Group jumped 4.1% to 3,792 yen. Nomura Holdings Inc. surged 5.1% to 564 yen.

Export related stocks jumped on tracking yen depreciation against US dollar, with Komatsu surging 5% to 2,534 yen, Honda Motor added 0.6% to 2,999 yen, and Toyota Motor Corp added 2% to 5952 yen.

China Stocks gain to fresh 10-months high

Mainland China stock market closed at fresh 10-months high, on tracking gains in global market, supported by hopes for U.S. policies under U.S. President-elect Donald Trump. All major sectors gained, led by metal producers and construction companies. The benchmark Shanghai Composite Index grew 0.78% to close at 3,196.04 points, taking its advance from its Jan. 28 low to more than 20%. The CSI 300 index closed marginal 0.01% down at 3,390.25 points.

China market registered fifth consecutive week of gains, after rising more than 1.5% this week on growing conviction that Chinas economy is stabilizing. Chinese markets have been driven up by positive sentiment on the back of positive economic data and the upcoming launch of the Shenzhen-Hong Kong stock connect which is due to begin later this month.

Industrial metals rallied, especially copper, zinc and lead, as investors bet on sectors that may benefit from U.S. President-election Donald Trumps pledge to increase infrastructure spending. An index tracking raw material shares rose over 2% and an index tracking infrastructure added 1.5%.

Hong Kong Stocks fall on fears of weak GDP

The Hong Kong stock market closed down, shrugging off global lead, on fears of weak GDP after reports city economic growth likely to slow in the third quarter from the second, with weak exports, sluggish retail sales and falling tourist arrivals. The economy was expected to grow 0.3% for the third quarter from the second, according to the median estimate of economists in a poll. From a year earlier, growth was forecast at 1.6%. Gross domestic product grew a seasonally adjusted 1.6% in the second quarter from the first, and 1.7% from a year earlier, the Special Administrative Region (SAR) government said in August. The Hang Seng Index declined 1.35% or 308.02 points to 22531.09, while the Hang Seng China Enterprises Index dropped 1.18% or 112.48 points to 9433.37. Turnover increased to HK$94.3 billion from HK$71.9 billion on Thursday.

Market talks circulated that the authorities may announce launch date for the Shenzhen-HK Connect program today after market close. HKEx (00388) rose 0.7% to HK$206.2. Bright Smart (01428) soared 3.6% to HK$3.45. CGS (06881) added 2% to HK$7.65. CITIC Sec (06030) gained 1.6% to HK$17.5.

Local banks also attracted buying orders. HSBC (00005) broke above HK$60 barrier. It ended up 1.9% to HK$61.15. Standard Chartered (02888) put on 1.5% to HK$64.8. BOCHK (02388) rose 2.4% to HK$28.25. It was the top blue-chip gainer today. Bank of East Asia (00023) climbed 1% to HK$31.4.

Chinese banks were mostly lower as new data showed that the ratio of non-performing loans rose by the end of the third quarter. The Industrial and Commercial Bank of China fell 1.29% to HK$4.60 while the Bank of China slipped 1.16% to HK$3.42.

Technology companies traded down after their US counterparts closed lower overnight. Tencent Holdings dropped 3.94% to HK$200 and China Mobile sunk 3.27% to a three month low of HK$84.25. Coolpad (02369) plunged 5.7% to HK$1 on news that its parent company LeTV allegedly paid bribes to CSRC executives for facilitating its IPO in Shenzhen.

Sensex ends below 27,000 mark

Sudden selling pressure in late trade dragged the key benchmark indices sharply lower. The barometer index, the S&P BSE Sensex, fell 698.86 points or 2.54% to settle at 26,818.82. The Nifty fell 229.45 points or 2.69% to settle at 8,296.30. All the 19 sectoral indices on BSE ended negative.

State Bank of India fell 3.09% to Rs 272.90 after net profit fell 34.56% to Rs 2538.32 crore on 8.29% growth in total income to Rs 50742.99 crore in Q2 September 2016 over Q2 September 2015. The result was announced during market hours today, 11 November 2016.

Sun Pharmaceutical Industries rose 3.30% to Rs 688.95 after consolidated net profit surged 117.25% to Rs 2235.14 crore on 19.98% rise in total income to Rs 8384.52 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

Elsewhere in the Asia Pacific region: New Zealands NZX50 declined 0.5% to 6697.78. Indonesias Jakarta Composite index slipped 4% to 5231.97. Taiwans Taiex slipped 2.1% to 8957.76. South Koreas KOSPI index declined 0.9% to 1984.43. Malaysias KLCI was down 1.1% to 1634.19. Singapores Straits Times index fell 0.7% to 2814.60.

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Board of Shilpa Medicare to consider Q2 results
Nov 11,2016

Shilpa Medicare announced that a meeting of Board of Directors will be held on 25 November 2016, inter alia, to consider the Un-audited Financial Results for the Second Quarter and half year ended 30 September 2016 in compliance of Regulation 33 of the SEBI (LODR) Regulations, 2015.

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IO System postpones board meeting for September quarter results
Nov 11,2016

IO System announced that Securities and Exchange Board of India (SEBI) has vide circular dated 05 July 2016, extended the timeline for furnishing of Ind-AS compliant financial results for the quarter ended September 30, 2016, by 14 December 2016, the Company shall furnish the same within the said time frame.

Accordingly, the Board meeting scheduled for 14 November 2016 shall now be held at a later date to furnish the Ind-AS compliant quarterly results for the quarter ended 30 September 2016, latest by 14 December 2016.

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